Pitt property tax values on the rise

Glenn Cutrell, county tax assessor said average increases likely would be between 10% to 12%. He stated we could expect a grand majority of properties to have an increase depending on their location.

Pitt county manager D. Scott Elliott said the county's ad valorem property tax rate which is currently 71 cents per $100 might increase, but it is too early to make that assessment. Cutrell explained that most dramatic changes would likely occur in the county's "hottest neighborhoods" where higher sales prices have driven up value.

Pitt County's last revaluation was in 2004 when the average increase was 30%; this large increase was due to the eight year gap between revaluations.

The County Commisioners voted to change the revaluation cycle to four years in an effort to prevent "sticker shock."

This process of tax revaluation of properties to determine market value is the basis for tax bills that homeowners will receive this year sometime after August.

Market value is determined by several factors with the most significant being the sales comparable properties. Tax officials use a variety of tools including sales questionnaires, the multiple listing service, revenue stamps, cost books and ratio studies.